The upcoming release of the March non-farm payrolls report on April 4 will have a significant impact on crypto markets. Unlike traditional markets, crypto markets will be open and trading when the data is released, making them the primary price-discovery mechanism for the economic data.
This situation is reminiscent of previous macro-driven volatility events where crypto absorbed outsized moves during off-hours for traditional markets. The US weekly jobless claims data release on April 2 will provide an early read on labor market direction heading into the Friday report.